Bitcoin needs weekly close above $85k to avoid correction to $76k: analysts

Bitcoin analysts are eying the weekly close to gauge Bitcoin’s price trajectory for next week, as traditional and crypto markets are lacking direction amid a mix of global trade war fears paired with easing inflation concerns. Bitcoin's (BTC) price may see more downside next week unless it manages to close the week above the $85,000 psychological mark, according to Ryan Lee, chief analyst at Bitget Research. “Bitcoin’s relief rally after the FOMC meeting and lower CPI readings has analysts eyeing a weekly close above $85,000, as critical for resuming upside momentum,” Lee told Cointelegraph, adding: “A close above this level could prevent a drop to $76,000 and signal strength, while $87,000 would provide even clearer bullish confirmation. Macro factors like steady rates and cooling inflation support risk assets, but the Sunday close will be decisive source: https://cointelegraph.com/news/bitcoin-weekly-close-85k-correction-76k-analysts?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound